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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap) |
South Korean stocks ended slightly higher Tuesday as investors remained cautious ahead of the releases of major US data later this week to gauge the Federal Reserve's monetary policy direction. The local currency gained ground against the US dollar.
The benchmark Korea Composite Stock Price Index (Kospi) added 3.2 points, or 0.12 percent, to 2,621.50.
Trade volume was a little slim at 372.2 million shares worth 8.8 trillion won ($6.4 billion), with losers outnumbering winners 561 to 322.
Foreigners purchased 131.9 billion won of local shares, offsetting a combined sell-off of 90.7 billion won by retail investors and institutions.
On Monday, Wall Street finished mixed, as investors awaited the US Producer Price Index, Consumer Price Index and retail sales data due out later this week, which will give further clues on the world's biggest economy's direction.
"Heightened caution ahead of the releases of the PPI, CPI and retail sales data has been hampering the market from gaining upward momentum amid weak investor sentiment," said Lee Kyoung-min, an analyst at Daishin Securities.
"Additionally, the escalating geopolitical tensions in the Middle East are also making it difficult for liquidity to flow into risky assets," he added, referring to Israel's war on Gaza.
Tech behemoth Samsung Electronics rose 0.79 percent to 76,100 won, and its chipmaking rival SK hynix jumped 2.77 percent to 181,900 won, tracking US AI chip giant Nvidia's overnight gain.
Financial firms were also bullish, with KB Financial up 2.55 percent to 84,600 won and Shinhan Financial up 2.59 percent to 55,500 won.
Samsung Life Insurance soared more than 4.79 percent to 94,000 won.
Krafton, a South Korean game developer behind the global blockbuster PUBG: Battlegrounds, shot up 12.97 percent to 331,000 won following an earnings surprise for the second quarter.
The food sector was also strong, with CJ Cheiljedang up 3.06 percent to 370,000 won and Nongshim up 2.7 percent to 437,500 won.
But major bio firms lost ground, with Samsung Biologics down 1.16 percent to 939,000 won and Celltrion down 3.65 percent to 192,700 won.
Shipping firm HD Hyundai Heavy also slid 2.64 percent to 216,500 won.
Top internet portal operator Naver retreated 2.43 percent to 156,400 won, and Kakao, the operator of the country's top mobile messenger, declined 1.89 percent to 36,400 won.
The local currency was trading at 1,370.4 won against the greenback as of 3:30 p.m., up 1.6 won from the previous session's close. (Yonhap)
